01790cam a22002297 4500001000600000003000500006005001700011008004100028100002300069245015900092260006600251490004100317500001900358520082300377530006101200538007201261538003601333710004201369830007601411856003701487856003601524w5847NBER20150331150806.0150331s1996 mau||||fs|||| 000 0 eng d1 aHulten, Charles R.10aInfrastructure Capital and Economic Growthh[electronic resource]:bHow Well You Use It May Be More Important Than How Much You Have /cCharles R. Hulten. aCambridge, Mass.bNational Bureau of Economic Researchc1996.1 aNBER working paper seriesvno. w5847 aDecember 1996.3 aThis paper shows that those low and middle income countries that use infrastructure inefficiently pay a growth penalty in the form of a much smaller benefit from infrastructure investments. The magnitude of this penalty is apparent when the growth experience of Africa is compared with that of East Asia: over one-quarter of the differential growth rate between these two regions can be attributed to the difference in effective use of infrastructure resources. At the same time, the difference due to new public capital formation is negligible. An even stronger impression is conveyed by the comparison of high and low growth rate economies. Here, more than forty percent of the growth differential is due to the efficiency effect, making it the single most important explanator of differential growth performance. aHardcopy version available to institutional subscribers. aSystem requirements: Adobe [Acrobat] Reader required for PDF files. aMode of access: World Wide Web.2 aNational Bureau of Economic Research. 0aWorking Paper Series (National Bureau of Economic Research)vno. w5847.4 uhttp://www.nber.org/papers/w584741uhttp://dx.doi.org/10.3386/w5847